HANGZHOU, China, Nov. 2 /PRNewswire-FirstCall/ -- Aida Pharmaceuticals, Inc. , one of mainland China’s leading pharmaceutical companies, today announced the Company held a press conference and symposium on Wednesday November 1, 2006. The following is a recap of what was addressed at the event:
Phase I trial results for potential cancer therapy Rh-Apo2L: The trials were conducted from September 2005 through May 2006 at the Chinese Academy of Medical Sciences Oncology Hospital in Beijing, China. The Phase I clinical trials included 20 patients with advanced-stage malignant tumors. The final report for the Phase I clinical trial submitted to the State Food and Drug Administration of China (SFDA) by Aida’s researchers indicated that 1) the drug has shown very few side effects with little to no toxicity, 2) it may potentially be one of the safest anti-cancer drugs in the world, and 3) the therapy has shown high anti-cancer efficacy on non-Hodgkin lymphoma, sarcoma and adrenal gland cortical tumors. Additionally, researchers found that Rh-Apo2L also affects the tumor size of non-small cell lung cancer, colorectal cancer and parotid gland capsule adenocarcinoma. The Company anticipates specific curative results of Rh-Apo2L will be confirmed in Phase II and III clinical trials. For more information on Phase I trial results please refer to the press release issued by the Company on July 27, 2006 or refer to the Company’s previously published answers to frequently asked questions about the development of Rh-Apo2L, here: http://www.equityperformancegroup.com/aida_einvestor_kit/QiaerBiotechFAQ.pdf.
Drug Trials: Aida Pharmaceuticals expects to receive approval for Phase II and III trials of Rh-Apo2L from the State Food and Drug Administration of China by the end of next week. These trials will take place in approximately 20 hospitals in major metropolitan areas throughout mainland China including Beijing, Tianjin, Shanghai, Hangzhou, Nanjing, Suzhou, Fuzhou, Hefei, Jinan, Chengdu, Changsha, Wuhan, Dalian and Guangzhou. The Phase II and III trials will analyze the effect of Rh-Apo2L on two types of tumors chosen from the following cancers: advanced inert lymphoma, malignant melanoma, soft tissue sarcoma, pancreatic cancer, kidney cancer, non-small cell lung cancer and colorectal cancer. The trials will analyze the specific efficacy of Rh-Apo2L in approximately 300-400 patients.
Rh-Apo2L Manufacturing Facility: Aida Pharmaceuticals announced during the press conference management’s intention to construct a GMP certified manufacturing facility for Rh-Apo2L. The facility will be built in the Jianggan Hi-Tech development zone in Hangzhou, China. The Company announced its intention to break ground on the project by early next year and expects construction to be completed by year-end 2007. The Company anticipates that this facility will be built through two to three stages and will have the final capacity to produce up to eight million doses of Rh-Apo2L.
The following statement was made by Aida Pharmaceuticals’ Chairman Jin Biao at the press conference, “It is also a great pleasure for us to present to you this Letter of Intent [held in the Chairman’s hand] at today’s historic signing ceremony between Aida Pharmaceuticals Inc. and the Government Representative of Jianggan District of Hangzhou. This L.O.I. represents the commencement of the location selection process for a manufacturing facility to produce Rh-Apo2L and beginning the new project in earnest. I, on behalf of the staff of Aida Pharmaceuticals and Shanghai Qiaer Bio-Technology, would like to express our warm welcome and sincere thanks to all of you for your participation. I am also proclaiming that cancer no longer needs to be considered the terrible disease it once was due to the tireless efforts, recent contributions and focus of the biotech industry. At Aida, for example, we are hopeful that we have uncovered a cure for late-stage malignant tumors, in our ongoing development of Rh-Apo2L."*
A full text English translation of the Chairman’s speech is available at: http://www.equityperformancegroup.com/aida_speech.pdf.
The development of Rh-Apo2L is an evolving process and the Company intends to keep shareholders, the media and the public updated as to the progress of the trials and the new manufacturing facility. Additionally, Aida intends to file the Company’s third quarter results with the SEC by November 15, 2006. For more information, please contact Bethany Tomich at 617-723-1465 or Bethany@equityperfgp.com.
About Rh-Apo2L:
Rh-Apo2L is an anti-tumor biological agent researched and developed by Shanghai Qiaer Biotechnology Co., Ltd., a newly acquired subsidiary of Aida Pharmaceuticals. Rh-Apo2L is a broad spectrum genetic cell apoptosis (cell-killing) agent, which the Company expects to be used for the treatment of a variety of tumors. Research and Development of Rh-Apo2L is sponsored and supported by several national and municipal funds. One patent of Rh-Apo2L has been granted by Chinese Patent Bureau, two additional patents are currently in process.
About Aida Pharmaceuticals:
Aida Pharmaceuticals is a product-focused pharmaceuticals company engaged in the formulation, clinical testing, registration, manufacture, sales and marketing of advanced pharmaceutical and genetic products in mainland China. The Company’s mission is to discover, develop and market meaningful new therapies that improve human health. Aida Pharmaceuticals, in operation since March 1999, is headquartered in Hangzhou, China with manufacturing, distribution and sales points throughout mainland China. Aida is GMP certified in China and ISO9002 certified for quality assurance and ISO14000 certified for ecologically-friendly practices. Aida is now producing and marketing a patented prescription drug in China: Etimicin Sulfate. It is the first antibiotic developed in China and is regarded as a category “A” drug by the State Food and Drug Administration of China.
Contact Information: Company: Aida Pharmaceuticals, Inc. 31 Dingjiang Road Jianggan District Hangzhou, China 310016 Investor Relations: Equity Performance Group Bethany Tomich (617) 723-1465 Bethany@equityperfgp.comhttp://www.equityperformancegroup.com Safe Harbor Statement: Under the Private Securities Litigation Reform Act of 1995:
This press release includes certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on Aida Pharmaceuticals, Inc.'s management’s current expectations and are subject to risks and uncertainties and changes in circumstances. All forward-looking statements included in this press release are based upon information available to Aida Pharmaceuticals, Inc. as of the date of the press release, and it assumes no obligation to update or alter its forward looking statements whether as a result of new information, future events or otherwise. These forward-looking statements may relate to, among other things, plans and timing for the introduction or enhancement of our services and products, clinical trial results, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact. Further information on risks or other factors that could affect Aida Pharmaceuticals, Inc.'s results of operations is detailed in its filings with the United States Securities and Exchange Commission available at http://www.sec.gov.
*Translations from Chinese may not always be accurate or precise. Equity Performance Group does not warrant such translations and disclaims any responsibility, including all alleged direct and consequential damages, for inaccurate translations. We have attempted to provide an accurate translation of the original material in Chinese, but due to the difficulties of translation slight differences may exist. For a complete version of the original Chinese, please email Bethany@equityperfgp.com.
Aida Pharmaceuticals, Inc.
CONTACT: Investor Relations: Bethany Tomich of the Equity PerformanceGroup for Aida Pharmaceuticals, +1-617-723-1465, Bethany@equityperfgp.com
